Dhaka, April 19 -- Deposits in local commercial banks increased by 10.43% in February (year-on-year) this year, thanks to rise in banks' interest rates.
According to Bangladesh Bank data, bank deposits in the country rose to Tk1,661,649 crore in February, marking an increase from Tk1,504,767 crore in February 2023.
It was Tk1,594,584 crore in June 2023.
Term deposits surged from Tk1,325,000 crore in February 2023 to Tk1,471,000 crore in February 2024. Demand deposits also increased from Tk179,000 crore in February 2023 to Tk190,000 crore in February 2024.
Bankers attributed the continuous increase in deposit rates to attracting many people to keep money in the banks.
Most banks raised their interest rates during this period to attract ...